Requested by rayhug1 to use Asia Range of 5pm Est to 2am Est...uses 540 minutes (5pm to 2am Est — 9 Hours) to calculate the Range...then breakouts trigger after 2am
-Ability to change Start and End Times to use any entire session. ---Defaults to 540 minutes (9 hours) but Opening Range Calculation can be changed to 1 hour, 2 hour etc. in Inputs tab
***Known Bug…Currently will NOT Plot accurately the U.S. Session from 0800 to 0759. Will Update Indicator when Fixed.
-Ability to Change the Start and End Times to Accommodate any session. —Default is 1700 to 1659 (Asian Range) —Europe Session 0200 to 0159
***All times are based on New York Time or Eastern Standard time … GMT-5
***Times will change based on Daylight Savings Time.
Hi, Chris! I'm getting these kind of distortions with your other script - - anything i can do to fix it?
Ataraxia_FX
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The "Opening Range Breakout with 2 Profit Targets" is an excellent indicator but I was wishing to capture the full Asia range of 9hrs with the breakout after 2am EST. By request, Chris has kindly produced the "Opening Range Asia and Europe" indicator to be able to capture the range of these sessions.
Thanks Chris. A superb piece of work again.
TonyCampbell
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Chris.....Thx for OR indicator, but a description of how to use it would be great. I'm not sure about the colored dots and why they seem to change colors. Thanks again!
ChrisMoody
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Check out my original indicator in the link above titled Opening Range Breakout with two profit targets. I went in to more detail there...this indicator was just per user request for a particular session.
The yellow dots are the high and low of the opening range...This indicator defaults to 9 hours or one entire session..the one I posted first is more common using 1 hour or 30 minutes.
One price breaks out of the opening range the dots change colors...Green if breakout to upside...red if break out to down side.
The two plots/lines on both sides of the opening range are profit target 1 and 2. They are adjustable...but they default to target 1 = 1/2 the opening range, and target 2 = 1 times the opening range.
Those lines change color when price hits them just as a visual...Also a plot of the #1 plots when target 1 is hit and #2 plots when target 2 is hit.
for more detail see the original indicator post
TonyCampbell
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Perfect......you nailed my questions.....thanks again!
TonyCampbell
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Chris.......I'm looking at SPY today with OR default settings for session 4 "US Stocks."
OR hi/lo labels are 201.41 and 201.07, but the 1st hour low is 200.86. Am I missing something? Thanks.
ChrisMoody
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What timeframe are you on? if your using the default of 1 hour opening range you have to be on a 1 hour or below. This chart is 5 minute chart. It has the correct values. Yesterday and today profit target 2 was hit.
ChrisMoody
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Also...Just a tip....this is a 5 minute SPY chart with the opening range set to 15 minutes. On indexes the 15 minute works well right now. Last 5 days profit target 2 was hit.
TonyCampbell
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I'm looking at the 15https://m.......https://www.tradingview.com/x/T9hCs7tQ/
TonyCampbell
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I had the extended session for SPY enabled........which seems to change the OR levels even when OR default settings are used.